 "News Digest")
Paytm Mall may acquire majority stake in BigBasket, talks on fast track
Paytm Mall, Paytm’s e-tail platform, could soon pick up a majority stake in online grocery provider BigBasket. Sources said that discussions on the deal, which began last year, were on a fast track.
A Paytm spokesperson denied that the company was in talks with BigBasket. However, according to sources, the company has been trying to team up with an e-grocery provider ever since there were rumours last year that Walmart wanted to tie up with an e-commerce partner in India.
In February, Paytm’s backer Alibaba invested $200 million
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